Bad news for fans anticipating the upcoming HALO movie. Universal and Fox have both pulled out of co-financing the picture after rumours of the film’s budget climbing above the original projected $135 million and subsequent hardballing by both companies to try and par down the cost failed.
The studios made the pay cut demand by October 15. On that day Microsoft was to have received the bulk of a promised $5 million upfront payday, and also stood to receive 10% of gross for rights to the game and a script by Alex Garland. Obviously that didn’t come about, so Uni and Fox bailed.
Ken Kamins, who represented exec producers Peter Jackson and Fran Walsh, denied the rumoured budget increase, saying that the only budget discussed was the $145 million one, less the 12.5% rebate that you get from shooting in New Zealand, which would put it at about $128 million.
Instead, what happened was this: According to Kamins, Universal, on behalf of both studios, asked for a meeting with the filmmakers just prior to the due date, and stated that in order to move forward with the film, Jackson and company had to significantly reduce their deals. They waited until the last minute to have this conversation. Peter and Fran, after speaking with their producing partners and with Microsoft and game designer Bungee, respectfully declined.
The film isn’t dead, and far from it, as Microsoft is already in talks with other distribution partners. Prep work on the film is still continuing. However, more speculation is coming from the fact that the director for the film, Neill Blomkamp, is relatively unknown in circles, and HALO would mark his film debut, which is what in reality may have scared off Uni and Fox.
“Everybody is supremely confident in Neal,” Kamins said. “Part of what excited Peter and Fran was Neal’s vision. We’re very confident this film will move forward with the creative partners intact, who will take the film to production.” Obviously, this is one story that won’t go away just yet, so stay tuned.
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